The chairman of the tax administration reform commission, Parthasarathi Shome today told CNBC-TV18 that the Central Board of Excise and Customs (CBEC) has been asked to issue a circular on its Fiat judgment. The circular will bring clarity on the conditions under which excise duty can be levied on cost price. Talking to CNBC-TV18’s Aakansha Sethi, shome also talked about his expectations on implementation of key tax reforms like GST and Direct Tax Code (DTC). He said that the preparatory work on GST and DTC is complete and he expects them to be tabled in winter session of the Parliament.
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